Consumer Credit Bill included in Queens' Speech
17th May 2005

The Government has included the re-introduction of a Consumer Credit Bill in today's Queens' speech. Debt on our Doorstep welcomes this move, with recent TV coverage of irresponsible lending highlighted by the BBC's investigation into Lloyds TSB. However, we will be campaigning for additional powers to be included in the Bill which were absent from the version introduced into Parliament before the election.

These include a 'responsible lending' test that would make any loan which did not take into account the borrowers' ability to pay automatically unfair. We will also be seeking a review of the Government's current policy on interest rate ceilings to ensure that consumers in the UK enjoy the same level of protection as most other European countries.